LOS ANGELES , Oct. 19, 2010 (GLOBE NEWSWIRE) — Vencor International, Inc. (Pink Sheets:VCOR), a company engaged in the design, manufacture wholesale of robes and leisure wear for men and women of all ages through a variety of marketing channels within the hospitality industry including luxury hotels, exclusive Bed and Breakfast destinations and spas around the world, is pleased to issue this letter to its shareholders from its Chief Executive Officer David Harkham .
To Vencor International, Inc. Shareholders:
As most of you know, 2009 began a difficult cycle for the apparel industry with the impact of a distressed global economy causing many companies to redefine their concept of success as mere survival.As the industry moves forward into what appears to be a modest upswing in 2010, we at Vencor are cautiously optimistic and are determined to emerge from economic downturn as a leaner, stronger and more competitive company.
Vencor’s management team has spent several intense months re-evaluating and re-envisioning the entire Vencor enterprise in order to develop a strategic plan for profitability and growth for 2011 and beyond.We would like to share this plan with our valued shareholders and ask for your support as we continue working with focus, optimism, and determination to create new opportunities for the Company.
Vencor plans to increase its market share and enhance its core leisurewear business by developing new product lines to access certain direct-to-consumer and multi-level marketing merchants; by re-launching an established apparel brand in a large department store chain; by reducing manufacturing costs through certain strategic acquisitions; and through an e-commerce initiative.
Vencor is currently in product development talks with an $8 billion international multilevel marketing company to distribute a version of its luxury robes through their product catalogue, and has recently retained apparel industry executive David Loren to design and merchandise a line of moderately priced leisure wear for similar distribution in a catalogue that would be exclusive to Vencor products.Mr. Loren has designed and merchandised apparel as President of Leon Max, Inc., Group President of BCBGMaxAzria Group, President of Sales and Merchandising U.S. for Paris -based Et Vous and as President of the Women’s Division of Perry Ellis International among others.
Vencor is designing a moderately priced version of its products which it plans to present to an established television shopping channel.Vencor believes that a television shopping version of its ‘5-star hotel robe’ could be a best-seller and open the door to direct-to-consumer merchandising for more leisure wear product lines.
Vencor’s management reached an agreement for a popular retail location to launch its new ‘revolutionary’ concept. This concept is especially appealing due to the fact that most retailers are catering to petite sizes and to the younger audience. There is a great void for fashionable missy contemporary, and trendy larger size branded goods. (Everything $20 and less stores.) This is a very aggressive approach especially in the economic environment as long as quality and style is not compromised. Huge revenues and profits must follow.
Vencor plans to create two interactive e-commerce websites where its products will be accessible to both wholesale and retail customers internationally. The first site will be dedicated to the Company’s wholesale customer base and will allow the Company to attract new corporate customers worldwide. The second website will service individual retail consumers.
In order to focus on its core leisure apparel business Vencor has discontinued its GreenEcco division.
Our plans and goals for Vencor are focused on creating sustainable, profitable growth over the long term and to create value for our shareholders.The new framework for success that we have developed for the Company is intended to establish Vencor as a significant presence in the hospitality, travel and leisure wear segment of the fashion industry.
I would like to thank all of you for your continued support as we move into one of the most exciting periods in Vencor’s history and to invite you to follow our progress on the Company’s website
Chief Executive Officer